Other Briefings
French Retail Giant to Enter Indian Market
May 5 – Europe’s largest retailer, Carrefour S.A, is planning to enter the Indian market through wholesale superstores slated to open later this year. Indian law does not allow full foreign ownership in the retail business so the company is currently looking for a local partner to open stores under the Carrefour brand. “We have […]
Assocham Recommends 49 Percent Initial FDI in Defense Sector
May 4 – The Associated Chambers of Commerce and Industry of India (Assocham) is recommending that only up to 49 percent foreign direct investment be initially allowed for the defense equipment sector. The defense industry proposed earlier that 100 percent foreign direct investment be allowed in the sector to stimulate domestic manufacturing. Assocham advises that […]
India Considers Cutting Export Costs
Apr. 28 – The Indian government is looking for ways to cut costs for exporters to make them more competitive in world markets. This may involve simplifying procedures and transparency issues as well as doing away with cost inefficiencies. The Minister of State for Commerce and Industry Jyotiraditya Scindia is heading a task force to […]
India Raises Interest Rates
Apr. 21 – India’s central bank raised interest rates for the second time in a month to curb double-digit inflation spurred on by the economic stimulus plan. Inflation rates rose to 9.9 percent in March compared to 0.5 percent in September, the highest rate in 17 months. The Reserve Bank of India raised the repo […]
India to Seek Tax Avoidance Agreements with Nine Territories
Apr. 20 – India is considering negotiating tax treaties in nine territories to help curb tax avoidance. The nine identified territories include: Cayman Islands; Bermuda; British Virgin Islands; Gibraltar, all British overseas territories; Guernsey; Isle of Man; Jersey, all British crown dependencies; Netherlands Antilles, an autonomous part of the Kingdom of Netherlands; and Macau, a […]
Foreign Institutional Investors Stakes Capped at 10 Percent Equity
Apr. 16 – Foreign institutional investors (FIIs) wanting to invest in India will be limited to no more than 10 percent equity stake following the rules set out for portfolio investors. The new rule will apply even if the foreign institutional investors are investing through the foreign direct investment route according to the Department of […]
India Blocks Entry of Foreign For-Profit Universities
Apr. 15 – One of the restrictions of India’s newest Foreign Education Providers Bill will block the entry of foreign for-profit universities in the country. Last month, the cabinet approved the Foreign Education Providers Bill that would allow foreign universities to establish campuses in India. The bill also restricts foreign universities from repatriating money to […]
Foreign Investment Promotion Board Calls for Less Undue FDI Scrutiny
Apr. 13 -The Foreign Investment Promotion Board (FIPB) has asked the Department of Revenue to lessen its scrutiny of foreign direct investment proposals to cut delays. Following FIPB rules, a proposal need only to be vetted by the original ministry and any related ministry when recommended by the board. Official sources said that the Department […]
